Great Bear Resources

Rupert Resources Announces Issue of Options to Board and Management

TORONTO, ON / ACCESSWIRE / August 23, 2019 / Rupert Resources Ltd (TSX-V:RUP) (FSE:R05) (“the Company”) announces the issue of options to acquire shares in the Company (“options”) in accordance with the Company’s Stock Option Plan dated August 6, 2010 (the “plan”).

The Company granted a total of 2,565,000 options to certain directors, officers and employees of the Company. The options were granted on August 22, 2019 with an exercise price of $0.87 per share. The options are exercisable for a five-year period from the date of grant, with 50% of the options vesting after 12 months and the remainder after 24 months.

Following the award of the options, there are 10,700,000 options outstanding under the plan, representing 8.7% of the issued and outstanding shares of the Company.

About Rupert

Rupert is a Canadian based gold exploration and development company that is listed on the TSX Venture Exchange under the symbol “RUP”. The Company owns the Pahtavaara gold mine, mill, and exploration permits and concessions located in the Central Lapland Greenstone Belt in Northern Finland (“Pahtavaara”). Pahtavaara has an Inferred mineral resource at a 1.5 g/t Au cut off grade of 4.6 Mt at a grade of 3.2 g/t Au (474 koz) (see the technical report entitled “NI 43-101 Technical Report: Pahtavaara Project, Finland” with an effective date of April 16, 2018, prepared by Brian Wolfe, Principal Consultant, International Resource Solutions Pty Ltd., an independent qualified person under National Instrument 43-101 - Standards of Disclosure for Mineral Projects). The Company also holds a 100% interest in two properties in Central Finland - Hirsikangas and Osikonmaki; the Gold Centre property, which consists of mineral claims located in the Balmer Township, Red Lake, Ontario; and the Surf Inlet Property in British Columbia.

For further information, please contact:

James Withall
Chief Executive Officer
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Thomas Credland
Head of Corporate Development & Investor Relations
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Rupert Resources Ltd
82 Richmond Street East, Suite 203, Toronto, Ontario M5C 1P1
Tel: +1 416-304-9004

Web: http://rupertresources.com/

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward Looking Statements

This press release contains statements which constitute ”forward-looking statements”, including the completion of the proposed Private Placement and the anticipated use of proceeds. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, are intended to identify such forward-looking statements. Investors are cautioned that forward-looking statements are based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, and are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the general risks of the mining industry, as well as those risk factors discussed or referred to in the Company's annual Management's Discussion and Analysis for the year ended February 28, 2019 available at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.

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Rupert Resources

Last Trade: C$0.70
Daily Change: 0.02 2.94
Daily Volume: 95,100
Market Cap: C$85.000M
Rupert Resources Drills 181.1 Grams Per Tonne Gold (g/t) Over 1.7m and 4.2g/t Over 11m at the Pahtavaara Mine
Rupert Resources Reports New Drilling at Heinä Central Identifying High Grade Near-Surface Mineralisation Including 3.3 Grams Per Tonne Gold and 1.5% Copper Over 10.6M
Rupert Resources Drills 62.7 Grams Per Tonne Gold (g/t) Over 11.9m and 220g/t Gold Over 5m at the Pahtavaara Mine
Rupert Resources Defines Broad Copper Zones at Heinä Central (Area 1), Extends Strike Length to 350m and Identifies Similar Mineralisation 2km East at the Island Target
Rupert Resources Discovers Significant New Continuous Gold and Copper Mineralisation at the Pahtavaara Project in Northern Finland
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Rupert Resources Announces Closing of Non-Brokered Private Placement for $7.3M and 95% Conversion of $7.7M Convertible Debentures to Equity Both at $0.85 Per Share
Rupert Resources Announces a Non-Brokered Private Placement of up to $7.7m and the Conversion of the Convertible Debentures
Rupert Resources Announces Annual General and Special Meeting of Shareholders
Rupert Resources Reports Results For First Quarter 2019
Rupert Resources Announces Amendment To Convertible Debentures

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